A car which operates on more than one form of onboard energy source to achieve desired momentum is called hybrid car. In practice, hybrid vehicles feature traditional internal combustion engine along with fuel tank and one or more electric motors and battery packs. Rising concern related to air pollution due to vehicle emissions coupled with government initiative towards use of eco-friendly vehicle across all regions are the major factors that drives the hybrid cars market.

In terms of volume and revenue, Asia Pacific held the largest share of more than 70% of the global hybrid cars market in 2015. Government initiative towards use of hybrid cars coupled with increasing awareness related to eco-friendly vehicle especially in countries such as Japan and China are the major factors contributed the growth of hybrid car market in this region. Asia Pacific is anticipated to grow at highest CAGR compare to other regions during the forecast period. It is estimated to grow at CAGR of more than 16% in terms of value during the forecast period. Japan contributed the largest share and is likely to remain dominant market in next eight years.

North America followed by Europe estimated to grow at moderate rate during the forecast period. Government support for the purchase of hybrid car and expanding charging units across regions are major drivers of the hybrid car market in North America and Europe. Penetration of hybrid cars in Latin America and Middle East & Africa is least compare to other regions. These regions are expected to grow at sluggish rate during the forecast period. Flexi-fuel cars still dominated the hybrid car market in Latin America and penetration is very less for hybrid car in this region. Within Middle East, oil is readily available at affordable price for obvious reasons due to which hybrid car penetration is minimal.

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